Establishing a BioMedTech Incubator

The 2021 BioMedtech Incubator grant is part of the Medical Research Future Fund (MRFF) and the Medical Research Commercialisation Initiative. This opportunity looks to fund the most suitable organisation who can identify and select a number of Australian small and medium enterprises (SMEs) undertaking early-stage medical research and medical innovation projects that have commercial potential.

The successful organisation, in partnership with SMEs, aims to progress and support medical research and medical innovation projects by:

• providing access to capital and industry knowledge
• facilitating an environment where research projects are incubated
• providing up to $5 million in funding for an SME over 5 years to develop a research project.

The successful organisation must:

• identify and select through open and competitive processes Australian SMEs undertaking early-stage medical research and medical innovation projects that have commercial potential
• work in partnership with the selected Australian SMEs to successfully progress their medical research and medical innovation projects through the early stages of development
• nurture and mentor the next generation of health and medical research innovators in Australia
• assist SMEs in the development of health and medical research to result in interventions, cures, and treatments that address health problems of national significance
• provide project funding of up to $5 million to the selected Australian SMEs and support them to plan and undertake agreed activities, meet relevant milestones and generate required data and evidence
• provide and/or procure specialist support and expertise for the selected Australian SMEs to assist them in successfully planning and undertaking the agreed activities to attract commercial investment
• facilitate meetings, share knowledge and establish networks.

Reporting templates are available from the MRFF grants management webpage. The page also provides other resources for MRFF grant administration, including current policies and relevant forms and templates.